US Bancorp DE Grows Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

US Bancorp DE boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 415.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,305 shares of the communications equipment provider's stock after purchasing an additional 146,141 shares during the period. US Bancorp DE's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $1,374,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.4% during the 1st quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider's stock valued at $1,047,000 after buying an additional 8,086 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.2% in the second quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider's stock worth $1,161,000 after acquiring an additional 120,072 shares during the period. Gateway Investment Advisers LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider's stock worth $3,890,000 after acquiring an additional 584,201 shares during the period. Diversified Trust Co purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth about $1,545,000. Finally, Blue Trust Inc. raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 244.0% during the 2nd quarter. Blue Trust Inc. now owns 16,624 shares of the communications equipment provider's stock valued at $103,000 after purchasing an additional 11,791 shares during the period. Institutional investors own 7.99% of the company's stock.

Analyst Ratings Changes

ERIC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a report on Monday, October 21st. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

NASDAQ:ERIC traded down $0.06 during trading hours on Friday, reaching $8.19. The stock had a trading volume of 10,486,210 shares, compared to its average volume of 16,661,857. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The stock has a market capitalization of $27.29 billion, a PE ratio of -270.00 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.54 and a 52 week high of $8.62. The company has a 50 day moving average price of $7.79 and a two-hundred day moving average price of $6.76.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. As a group, sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.45 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.